Page ID: 4bf0
Approve commercial claims cash settlement
Who is responsible for approving the different commercial claim cash settlements.
Prerequisites
Claim is a commercial/heavy equipment claim.
Context
Who to obtain a cash settlement approval from for the commercial / heavy equipment claim.
Approval process
The approval process uses the cash settlement amount, and claim type to determine who will authorize the cash settlement.
Cash settlement amount:
Use the table to identify the level of authorization required for a cash settlement.
| Cash settlements | Commercial claims |
|---|---|
| Under $5,000 | Appraiser |
| $5,000 to $10,000 | Appraiser manager |
| Over $10,000 | Operations manager |
Claim type:
In addition to the cash settlement amount, the commercial claims appraiser manager must also approve of a cash settlement when the claim is a:
- hit and run claim, or
- audio, visual, and communication equipment claim.
Note: All cash settlements must meet the requirements outlined in the claim procedures.